The smartwatch is slowly transforming into the next big thing, and it appears Microsoft is not willing to wait until there's a leader before jumping in. This smartwatch from Microsoft is expected to be similar to the Galaxy Gear Fit, though we are not certain if it will have a similar design.

The new smartwatch device will play well with Android and iOS device, not just Windows Phone, reports indicate. 

This is not surprising since Microsoft has realized that the world has changed, and Windows is no longer the dominant platform, Forbes says, after getting its information from sources close to the situation at Microsoft,

The report also claims that Microsoft enlisted the Kinect team to work on the device, which will come packed with several sensors and a heart rate monitor that is capable of monitoring the users heart rate all day and right through the night.

Interestingly enough, the design of the watch is unique. Insiders claim the display is placed at the inside of the wrist, which should make it easier for users to keep the notifications to themselves. This is a smart move, and should work wonders for those who require a bit of privacy from prying eyes.

When it comes down to the design of the display, Forbes sources claim it's the size of a gum stick; we're guessing this is where the resemblance to the Galaxy Gear Fit begins to show itself. It also means that one should not expect much in terms of features similar to what we expect to see in the first batch of Android Wear devices, unless Microsoft has other plans.

We also understand the battery life for this smartwatch is expected to last up to two days on a single charge. While that's better than most smartwatches on the market, Microsoft needs to understand that it is a watch at heart and needs to last even longer. However, with a colored display, this could be a difficult proposition.

Whatever Microsoft is working on, we wouldn't be surprised if the company allows third parties to use the software to come up with their own smartwatch with Windows inside, unless Redmond wants to become another Apple.

Microsoft's smartwatch, according to sources, could find itself on consumer wrists as early as summer 2014.